How Nigeria secured $30bn Paris Club debt relief — Okonjo-Iweala
Synthesised from 2 African sources
The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, on Wednesday reflected on Nigeria’s economic reform programme under former President Olusegun Obasanjo, saying public understanding and support were indispensable to the reforms that culminated in the country’s landmark debt deal.
READ ALSO: Nigeria floors businessman seeking refund of $159 million Paris Club debt The publication explores themes of leadership, governance, citizenship, justice, memory and hope, while reing major episodes in Nigeria’s history, including military rule, the return to democracy, economic reforms and contemporary public affairs.
In 2005, Nigeria secured about $18 billion in debt relief from the Paris Club after agreeing to pay about $12 billion, significantly reducing the country’s external debt burden and creating fiscal space for economic reforms and public spending.
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